DEE Piping Systems IPO Price: ₹193 to ₹203 per share
IPO Date Range: 19 June 2024 - 21 June 2024
Founded in 1988, DEE Development Engineers Limited specializes in process piping solutions for industries such as oil and gas, power (including nuclear), chemicals, and other sectors. The company is globally recognized for its technical ability to address complex process piping requirements.
The company manufactures and supplies high-pressure piping systems, piping spools, high-frequency induction pipe bends, longitudinally submerged arc welding pipes, industrial pipe fittings, pressure vessels, industrial stacks, modular skids, and accessories such as boiler superheater coils, de-superheaters, and customized components.
DEE operates seven manufacturing facilities in Palwal (Haryana), Anjar (Gujarat), Barmer (Rajasthan), Numaligarh (Assam), and Bangkok (Thailand). For the nine months ended December 31, 2023, these facilities had a cumulative installed capacity of 70,875 MT, with annual capacities of 94,500 MT, 91,500 MT, and 86,500 MT for Fiscal 2023, 2022, and 2021, respectively.
DEE provides comprehensive process piping solutions, including pre-bid, basic, detailed, and support engineering for process and power piping systems. Their pre-fabrication services include cutting and beveling, welding, radiography, post-weld heat treatment, hydro testing, pickling and passivation, grit blasting, and painting. The company handles complex metals, including various grades of carbon steel, stainless steel, super duplex stainless steel, alloy steel, Inconel, and Hastelloy. Recently, DEE expanded into designing, engineering, fabricating, and manufacturing pilot plants at Palwal Facility III.
| IPO Date | June 19, 2024 to June 21, 2024 |
| Listing Date | Wednesday, June 26, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹193 to ₹203 per share |
| Lot Size | 73 Shares |
| Total Issue Size | 20,591,852 shares (aggregating up to ₹418.01 Cr) |
| Fresh Issue | 16,009,852 shares (aggregating up to ₹325.00 Cr) |
| Offer For Sale | 4,582,000 shares (aggregating up to ₹93.01 Cr) |
| Employee Discount | Rs 19 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 53,039,140 |
| Share holding post issue | 69,048,992 |
Bidders have the opportunity to bid for a minimum of 73 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 73 | ₹14,819 |
| Retail (Max) | 13 | 949 | ₹1,92,647 |
| S-HNI (Min) | 14 | 1,022 | ₹2,07,466 |
| S-HNI (Max) | 67 | 4,891 | ₹9,92,873 |
| B-HNI (Min) | 68 | 4,964 | ₹10,07,692 |
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
| IPO Open Date | Wednesday, June 19, 2024 |
| IPO Close Date | Friday, June 21, 2024 |
| Basis of Allotment | Monday, June 24, 2024 |
| Initiation of Refunds | Tuesday, June 25, 2024 |
| Credit of Shares to Demat | Tuesday, June 25, 2024 |
| Listing Date | Wednesday, June 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 21, 2024 |
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DEE Development Engineers Limited experienced a substantial 30.47% growth in revenue and a significant 58.25% increase in post-tax profit (PAT) between the fiscal years ending on March 31, 2022, and March 31, 2023.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 31 Dec 2023 |
|---|---|---|---|---|
| Assets | 835.88 | 845.40 | 966.26 | 1171.01 |
| Revenue | 513.03 | 470.84 | 614.32 | 557.86 |
| Profit After Tax | 14.21 | 8.20 | 12.97 | 14.34 |
| Net Worth | 448.50 | 401.37 | 413.70 | 428.19 |
| Reserves & Surplus | 432.81 | 395.85 | 408.17 | 380.23 |
| Total Borrowing | 257.17 | 285.36 | 352.62 | 407.14 |
| KPI | Values |
|---|---|
| Market Cap | Rs 1401.69 Cr. |
| EPS | Rs 2.45 |
| P/E (x) | 83 |
| ROCE | 3.91% |
| Debt/ Equity | 0.85 |
| RoNW | 3.35% |
The company plans to use the proceeds from the fresh issue for the following purposes:
Prospectus: Official documents that provide detailed information about the IPO and the company. DEE Development Engineers Limited IPO DRHP and DEE Development Engineers Limited RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the "DEE Piping Systems IPO" is ₹193 to ₹203 per share.
The "DEE Piping Systems IPO" is expected to be listed on Thursday, 21 September 2023.
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